logo-loader
viewMetminco Ltd

Farm-out deal add “enormous” value to Metminco, says chief

William Howe, chief executive of copper and gold explorer Metminco Limited (LON:MNC ASX:MNC) says the US$45mln farm–out deal it announced yesterday of its of its Los Calatos project in Peru will allow it to complete the feasibility study.

He tells Proactive Investors that this will in turn “add an enormous amount of value to the project”.

A binding terms sheet has been signed with natural resources fund CD Capital Fund III that will see the money received in 3 tranches to pay for pre-feasibility and feasibility studies over the next 3-4 years.

Howe says the feasibility study could add “12 to 15 times the current capitalisation of the company, so from the point of view of Los Calatos it is a very big deal for Metminco”.

Quick facts: Metminco Ltd

Price: 0.085 AUD

ASX:MNC
Market: ASX
Market Cap: $14.15 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Metminco Ltd named herein, including the promotion by the Company of Metminco Ltd in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Metminco submits plan of works for Miraflores gold project

Ram Venkat, non-executive director at Metminco Ltd (ASX: MNC)(LON:MNC), tells Proactive they've submitted a plan of works to the Colombian Mining Agency for the Miraflores gold project. The plan follows Metminco’s announcement last year that it had established a reserve of 457,000 ounces...

on 31/1/18

2 min read